Question
The activity on a credit card account for one billing period is shown below. Find the average daily balance and finance charge if the billing
The activity on a credit card account for one billing period is shown below. Find the average daily balance and finance charge if the billing period is March 3 through April 2. The previous balance on the account is $209.46 and the annual interest rate is 22.3%. show your completed table for the given transactions.
| Date | Activity | Amount |
| March 12th | Payment | $50.00 |
| March 17th | Clothes purchase | $28.46 |
| March 20th | Car repairs | $31.22 |
| April 1st | Text book purchase | $59.10 |
| Time | Days | Trans | Daily Balance | Days(Bal) |
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Fundamentals of Financial Management
Authors: Eugene F. Brigham, Joel F. Houston
10th edition
978-1337902571, 1337902578, 978-1337911054, 1337911054, 978-0324272055
